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Iran and China sign energy agreement  

Tehran, August 02, 09 (Hamsayeh.Net) - Iran and China plan on deepening their energy cooperation. This is why the National Iranian Oil Producers Distribution Company (NIOPDC) and a Chinese consortium signed an agreement for the expansion of ABADAN oil refinery and Persian Gulf Star on Saturday.


The project totals 2 to 3 billion Euros and calls for proactive cooperation of both parties in the course of the project. Based on this agreement the refining capacity of petrochemical output will increase from 210 thousand barrels per day to 360 thousand barrels per day.


The agreement will focus on increase of gasoline production to meet international standards helping reduce environmental pollutant caused by under refined gasoline mostly in use today. The plan is due for completion within 3 years.


Iran and China cooperate on a number of projects in the field of energy inside Iran. Among those is China's Sinopec Company currently developing the Yadavaran oil field in Khuzestan province and the China's national oil company CNCP active in the development of Azadegan oil field also located in Khuzestan province on the shores of the Persian Gulf.



A field technician at the Azadegan oil field facilities



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